Vehicle Requirements for Ride Sharing and Auto Financing

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Even with poor credit.

By

Contributing Writer

Bethany Hickey is a graduate from the University of Michigan-Flint, with a bachelor’s in English-Writing. She is a content writer for Auto Credit Express, CarsDirect, and many other automotive blogs, as well as the Poetry Editor for UM-Flint’s writing magazine.


, Contributing Writer - March 30, 2020

Considering financing a car for a ride sharing gig? We’ll go over the common vehicle requirements for big-name ride sharing companies, and where to find dealerships that can help bad credit borrowers get auto loans.

Vehicle Requirements for Ride Sharing

The ride sharing companies have different vehicle requirements, so we’ll discuss the two big ones: Uber and Lyft. Your state and/or region is also going to have rules and regulations for cars that can be used for this kind of work that may include items like the minimum age of the vehicle or the maximum mileage allowed, but we’ll go over the basics to get you started.

According to Uber, your vehicle should meet these minimum requirements:

  • A four-door vehicle that seats at least four passengers
  • No cosmetic damage or missing pieces
  • 15 years old or newer
  • Clean title (no salvage or rebuilt/reconstructed titles)
  • No commercial branding
  • Auto insurance policy in your name, meeting your state’s regulations
  • Car must go through an inspection once a year by an approved mechanic

The basic requirements according to Lyft:

  • A four-door vehicle that seats at least four passengers
  • Minimum of five seat belts (including yours), with a maximum of eight
  • Certain subcompact cars and limousines are unacceptable
  • Auto insurance policy in your name, meeting your state’s regulations
  • Clean title (no salvage or rebuilt/reconstructed titles)
  • Vehicle must go through an inspection by approved mechanic (can be free if done at Lyft Hub locations) once a year

Again, these requirements vary according to your state, city, and region. But overall, your vehicle needs to be in good shape, typically under 10 to 15 years old, and must accommodate at least four passengers (all with seat belts) and have four working doors to be eligible for ride sharing. A background check, valid driver’s license, and a car insurance policy in your name, meeting your state’s standards, is also required.

So, if your vehicle doesn’t meet these standards and you want to join the ride sharing game, you may be looking at financing a new car.

Need Financing for Your Next Car Loan?

If you need to finance a vehicle for ride sharing but your credit isn’t in the best shape, you’ve got options. There are auto loans for people with bad credit and it's called subprime financing.

Subprime auto loans, or bad credit auto loans, typically includes cars under 10 years old with fewer than 100,000 miles. Many bad credit borrowers are also able to get financed for a certified pre-owned (CPO) vehicle – many of which are just coming off-lease.

To be considered for a subprime car loan, a lender will likely require these items:

  • Minimum monthly income of $1,500 to $2,000
  • Proof of residence
  • Proof of a working landline or contract cell phone
  • Valid driver’s license
  • A down payment of at least $1,000 or 10% of the vehicle’s selling price, sometimes whichever is less

Using your income, job and residence stability, and willingness to pay based on your credit history, subprime lenders realize you’re more than just a credit score. For more in-depth information on subprime requirements, click here.

At CarsDirect, we connect bad credit borrowers with dealerships all over the United States that have special finance departments. If you’re looking for financing, start with us. We’ll get to work finding a dealer in your local area after you complete our quick and free auto loan request form.

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, Contributing Writer

Bethany Hickey is a graduate from the University of Michigan-Flint, with a bachelor’s in English-Writing. She is a content writer for Auto Credit Express, CarsDirect, and many other automotive blogs, as well as the Poetry Editor for UM-Flint’s writing magazine.


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